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TMCNet: M&A Navigator: Deal pipeline - 14 June

[June 14, 2010]

M&A Navigator: Deal pipeline - 14 June

(M&A Navigator Via Acquire Media NewsEdge) The following is a list a of deals covered in detail by M&A Navigator this week: - US GLOBALOPTIONS GROUP TO OFFLOAD FRAUD AND SPECIAL INVESTIGATIONS UNIT FOR USD8.25M US risk management services provider GlobalOptions Group Inc (NASDAQ:GLOI) said it has agreed to offload its Fraud and Special Investigations Unit to unrelated company GlobalOptions Services Inc for USD8.25m (EUR6.8m) in cash.


Status: Agreed - US INSENTIAL TAKES OVER ANCILLARY BENEFITS AGENT SOURCE ONE BENEFITS Insential, a full-service wholesale agency in Dallas, Texas, said it had bought Chicago-based Source One Benefits, a general agent for ancillary benefits providers.

Status: Closed - MOUNTAIN REAL ESTATE CLOSES JV DEAL WITH GL HOMES OF FLORIDA US property manager Mountain Real Estate Capital (MREC) said it has closed its USD75m (EUR61m) joint venture deal with Florida-based home builder GL Homes.

Status: Closed - TPG WITHDRAWS BID FOR RBS' WORLDPAY BUSINESS US private equity firm TPG Capital has pulled out from the race for the payment processing business of Royal Bank of Scotland (LON:RBS).

Status: Terminated - SPANISH ABERTIS TO BUY AXION FOR EUR154M Spanish infrastructures manager Abertis (MCE:ABE) announced a preliminary deal to take full control of audiovisual transmission firm Axion, for EUR154m (USD188.4m).

Status: Agreed - UK DANA TO BUY PETRO CANADA NETHERLANDS FOR EUR328M UK oil company Dana Petroleum (LON:DNX) said it had agreed to buy Petro Canada Netherlands from Petro Canada, a fully-owned unit of Canadian oil and gas company Suncor (TSE:SU).

Status: Agreed - POYRY TAKES OVER HUNGARIAN ETV Finnish consulting and engineering firm Poyry (HEL:POY1V) said it had bought 97.8% of Hungarian rival ETV-Eroterv from its management, for an undisclosed amount.

Status: Closed - RHODIA TO SHED SALICYLIC ACID UNIT French chemicals producer Rhodia (EPA:RHA) said it would sell its salicylic acid business as it is not a strategic one for the group.

Status: Auction - IK INVESTMENT PARTNERS TO TAKE MAJORITY IN POLISH AGROS NOVA FROM ITR INVESTMENT PARTNERS European private equity firm IK Investment Partners announced an agreement to take control of Polish food and drink company Agros Nova from ITR Investment Partners.

Status: Agreed - VEOLIA TO TAKE EUR199M EUROPEAN ASSETS FROM UK UNITED UTILITIES French Veolia Environment (EPA:VIE) said that its water utility unit Veolia Water had agreed to buy a number of European operations from United Utilities (LON:UU) for some EUR199m (USD243.7m).

Status: Agreed - POLAND PUSHES FOR LOCAL BUYER TO TAKE OVER BZ WBK FROM ALLIED IRISH BANKS The Polish government and regulator are said to prefer a domestic company to buy Bank Zachodni WBK (WAR:BZW) from Allied Irish Banks (ISE:ALBK).

Status: Bidding - RUSSIA'S KERIMOV TAKES 25% OF URALKALI FROM MADURA Russian potash fertilizers maker Uralkali (LON:URKA) said that businessman Suleiman Kerimov had taken 25% in the company from Madura Holding, without giving financial details.

Status: Closed - FIS TO TAKE OVER COMPLIANCE COACH US banking and payments technology provider FIS (NYSE:FIS) said it has agreed to buy risk assessment software provider Compliance Coach for an undisclosed sum.

Status: Agreed - KBC COULD CALL OFF PEEL HUNT SALE Belgian financial services group KBC (EBR:KBC) will probably abandon the planned sale of its Peel Hunt broking unit in London if a management buyout fails.

Status: Auction; Speculation - US CINCINNATI BELL COMPLETES CYRUSONE TAKEOVER FOR USD525M US communications services provider Cincinnati Bell Inc (NYSE:CBB) said it has wrapped up the USD525m (EUR435.2m) cash takeover of local data centre operator CyrusOne from private equity company ABRY Partners.

Status: Closed - US EAST WEST BANCORP TAKES OVER WASHINGTON FIRST INTERNATIONAL BANK US East West Bancorp Inc (NASDAQ:EWBC), the parent of East West Bank, said it has taken over the banking operations of Washington First International Bank (WFIB) in an agreement with the Federal Deposit Insurance Corporation (FDIC).

Status: Closed - HUNGARY TO NEGOTIATE OPTIONS ON SURGUTNEFTEGAZ'S STAKE IN MOL The government of Hungary will kick off talks with Surgutneftegaz (MCX:SNGS) over the options for Russian oil group's 21% stake in Hungarian sector player MOL (BDP:MOL).

Status: Talks - CHINESE FOSUN BUYS INTO FRENCH TOUR OPERATOR CLUB MEDITERRANEE Chinese private holding company Fosun (HKG:0656) has bought 7.1% in French tour operator Club Mediterranee SA (EPA:CU), or Club Med.

Status: Closed - US MOSAIC DISCUSSES GRUPO FERTINAL ACQUISITION IN MEXICO US fertiliser producer Mosaic (NYSE:MOS) is negotiating the acquisition of Mexico-based sector player Grupo Fertinal.

Status: Talks - KPN CEO DENIES PLANS TO SELL GERMAN E-PLUS Dutch telecom group Royal KPN (AMS:KPN) does not have any plans to sell its German mobile phone unit E-Plus.

Status: Denied - KOV CLOSES BUY OF 70% IN UKRAINIAN KUB-GAS FOR USD45M Canada-based oil and gas group Kulczyk Oil Ventures (KOV), controlled by Polish businessman Jan Kulczyk, has purchased a 70% stake in Ukrainian gas producer KUB-Gas from Californian Gastek for USD45m (EUR37m).

Status: Closed - 3M CLOSES MTI POLYFAB TAKEOVER US diversified technology group 3M (NYSE:MMM) said it has completed the previously announced acquisition of Canadian thermal and acoustic insulation producer MTI PolyFab for USD24m (EUR19.7m).

Status: Closed - US EXCEL STORAGE PRODUCTS TO TAKE OVER SECTOR FIRM W.C. CARDINAL US rack systems producer Excel Storage Products LP said it has inked a letter of intent to take over Ohio-based sector firm W.C. Cardinal Company Inc for an undisclosed sum and in an attempt to widen its product and service range.

Status: Exclusivity - US FREEDOM GRILL COMPLETES DEAL WITH EXOSPHERE AIRCRAFT US sports marketing company Exosphere Aircraft (PINK:EXSA has completed the takeover of local provider of products for the outdoor activities market Freedom Grill Inc for an undisclosed sum.

Status: Closed - RENOVA BOOSTS HOLDING IN SWISS OERLIKON TO 46% Russian investment firm Renova Group said it has lifted its stake in OC Oerlikon (VTX:OERL) to 46.11% through the subscription of the Swiss industrial company's capital hike with cash and loans.

Status: Closed - UK 888 TO BUY US MYTOPIA FOR USD48M Gibraltar-based online gaming company 888 Holdings (LON:888) said it had agreed to buy online social games developer Mytopia from Real Dice for USD48m (EUR39.2m), to grow in social gaming, and boost revenues.

Status: Agreed - XTERA COMMUNICATIONS ANNOUNCES UK POLARIQ BUY US fibre-optic transmission equipment company Xtera Communications said it has taken over UK Polariq, which provides solutions for polarization mode dispersion (PMD), for an undisclosed sum.

Status: Closed - ITALIAN ATLANTIA TO TAKE ANOTHER 10% OF BRAZIL'S TRIANGULO DO SOL Italian toll road operator Atlantia (BIT:AUTS) announced it has agreed with Brazilian infrastructure group Leao & Leao to acquire 10% in Brazilian motorway operator Triangulo do Sol Auto-Estradas S/A.

Status: Agreed - UK WEIR SIGNS USD200M DEAL TO BUY MALAYSIA-BASED LINATEX UK engineering group Weir (LON:WEIR) said it had agreed to buy Malaysia-based Linatex group, for USD200m (EUR164.3m), including net debt and liabilities of USD27.5m.

Status: Agreed - GERMAN BILFINGER BERGER TO EXPLORE ACQUISITIONS German construction group Bilfinger Berger (ETR:GBF) is considering acquisitions in emerging markets to support its growth plans.

Status: Bidding - UBM BUYS FOUR COMPANIES IN SOUTH AMERICA TO BOOST PRESENCE British business media group United Business Media (LON:UBM) said it has acquired four companies in South America in an effort to diversify its product portfolio and boost its business in the region.

Status: Closed - 14 SPANISH RURAL BANKS IN VALENCIA TO CLOSE MERGER TODAY A group of 14 rural banks in the Spanish region of Valencia will formally merge today under the name Grupo Cooperativo Cajas Rurales del Mediterraneo (CRM).

Status: Agreed - AXA DISCUSSES SALE OF UK LIFE, SAVINGS OPS TO RESOLUTION FOR GBP2.75BN French insurer AXA (EPA:AXA) said it was negotiating the sale of some of its life and savings business in the UK to Resolution (LON:RSL) for GBP2.75bn (USD4bn/EUR3.3bn), although a deal is not certain at this point.

Status: Talks - NIELSEN AND MCKINSEY ANNOUNCE JV US market research company Nielsen and management-consulting firm McKinsey have formed a global joint venture to help companies improve their business performance.

Status: Closed - DANISH SATAIR TO BUY AERO HARDWARE & SUPPLY IN USA Danish aircraft parts distributor Satair (CPH:SAT) announced a preliminary agreement to acquire its US sub-supplier Aero Hardware & Supply for USD13.5m (EUR11.1m) in a move to expand its product offerings.

Status: Agreed - IBM EYES US-ISRAELI STORWIZE US computer giant IBM (NYSE:IBM) is negotiating the potential acquisition of US-Israeli data storage company Storwize for USD140m (EUR115m).

Status: Talks; Speculation - ARCELORMITTAL TO BUY OUT CZECH UNIT Luxembourg-based steel major ArcelorMittal (AMS:MT) said it would buy the remaining 3.57% stake it does not own in its Czech unit, ArcelorMittal Ostrava.

Status: Agreed - UNIBAIL-RODAMCO RAISES HOLDING IN RODAMCO EUROPE Franco-Dutch property group Unibail-Rodamco (EPA:UL) announced the purchase of additional 579,420 shares in Rotterdam-based real-estate investment firm Rodamco Europe for EUR70.65 (USD85.23) apiece.

Status: Closed - SPECTRUM BRANDS STOCKHOLDERS OKAY RUSSELL HOBBS BUY US consumer products supplier Spectrum Brands (NYSE:SPB) said its shareholders voted in favour of the proposed acquisition of privately-held household appliances distributor Russell Hobbs for an enterprise value of USD661m (EUR543m), net of debt.

Status: Agreed - UK GARNER, RUSSAM GMS TO FORM EXECUTIVE RECRUITMENT JV UK executive recruitment and consultancy firm Garner (LON:GAR) said it had agreed to set up NB:Board Interim, a 50/50 executive recruitment joint venture between its unit Norman Broadbent and Russam GMS.

Status: Agreed - CREDIT DU NORD IN EXCLUSIVE TALKS TO BUY BPCE RETAIL UNIT Credit du Nord, a unit of French bank Societe Generale (EPA:GLE), said it has entered exclusive negotiations with sector player BPCE to acquire retail bank Societe Marseillaise de Credit for EUR872m (USD1.06bn) in a bid to expand its regional banking network.

Status: Exclusivity - BLACKSTONE QUITS BIDDING FOR WESTIMMO US private equity firm Blackstone (NYSE:BX) is no longer in the race to buy the real estate lending unit of German commercial bank WestLB AG, Westimmo.

Status: Bidding; Terminated - CABLEVISION MULLS OVER BUYING BRESNAN Cablevision Systems (NYSE:CVC) is considering to buy US broadband Internet service provider Bresnan Communications for some USD1.3bn (EUR1.07bn).

Status: Bidding ((Comments on this story may be sent to tww.feedback@m2.com)) (c) 2010 M2 COMMUNICATIONS

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